The thermomechanical behavior of multilayer structures is a subject of perennial interest. Among various multilayer structures, we provided a thorough investigation on the lamination-based thick-film multilayer substrates, or the multichip module substrates. Firstly, we offered an in-depth look at the composite bean analysis (CBA) recently suggested for thick-film multilayer structures. The calculated substrate bow values using the CBA model were compared with the measured values and calculated values from numerical analysis. The magnitude and distribution of biaxial, shear, and peel stresses in thick-film multilayer substrates during sequential build-up of thick-film polymer dielectrics were calculated and discussed. Secondly, for users' convenience, the most widely-used analytical methods for microelectronics applications were summarized along with the CBA model, and their possible applications were suggested.